Hansen Kent A 4

What Happened

• Kent A. Hansen, Chief Financial Officer and Executive VP of Kingsway Financial Services, purchased 116 shares of Kingsway common stock on January 15, 2026. The shares were acquired at $13.54 per share for a total purchase of approximately $1,571. This was a purchase (company ESPP acquisition), which is generally viewed as a bullish/ownership-increasing transaction rather than a sale.

Key Details

• Transaction date: January 15, 2026; Filing date (Form 4): January 29, 2026. Note: Form 4s are normally required within two business days of the transaction; this filing was made about two weeks after the trade.
• Price and amount: 116 shares at $13.54 per share; total ≈ $1,571.
• Shares owned after transaction: not specified in the provided summary of the filing.
• Footnote F1: Shares were acquired under the Kingsway America Inc. Employee Share Purchase Plan (ESPP). Eligible employee and company contributions are pooled and the ESPP administrator purchases shares on the open market through a broker.
• Footnote F2: Filing discloses prior restricted stock holdings: 7,102 shares granted Mar 26, 2024 and 13,818 shares granted Dec 4, 2024 (these relate to Hansen’s existing holdings noted in the filing).

Context

• This was an ESPP-based purchase: the company’s ESPP uses employee and matching contributions to acquire shares on the open market for participants. Such purchases increase insider ownership but do not necessarily indicate a trading signal beyond continued participation in the company plan.
• No options were exercised and no shares were sold in this filing; the transaction is a straightforward purchase.